Blackstone Group (BX) / Steve Schwarzman

Re: Blackstone Group (BX) / Steve Schwarzman

Postby winston » Fri Apr 28, 2017 3:58 pm

Infrastructure Stocks to Buy: Blackstone (BX)

Infrastructure Stocks to Buy: Blackstone (BX)A stuffy New-York-based private equity company might seem an odd addition to a list of infrastructure stocks. But Blackstone Group LP (NYSE:BX) is about to make a major splash into infrastructure investment.

Earlier this month, the company announced it is “laying the groundwork” on a new infrastructure unit that would invest in projects like toll roads and bridges.

And seeing as how the investments would be for-profit, Blackstone wouldn’t necessarily need speedy action from the Trump Administration or Congress on an infrastructure plan.

Blackstone pays a dividend (technically a distribution) that varies with profitability, which can be a little off-putting to investors who are used to a consistent quarterly payout. But when times are good for Blackstone, they tend to be great.

If Trump is successful in pushing through corporate tax reform, that could be a major boon to private equity companies like Blackstone, most of which are currently organized as limited partnerships.

A lower tax corporate tax rate would make the tax savings from organizing as an limited partnership less compelling and might persuade them to reorganize as corporations (Kinder Morgan did this a few years ago).

That would make the private equity companies easier to understand and would eliminate the UBTI issues that can affect tax-exempt holders such as IRA plans.

Source: Investor Place
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Re: Blackstone Group (BX) / Steve Schwarzman

Postby winston » Tue Jun 06, 2017 9:25 pm

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Blackstone Group L.P. (NYSE: BX) is rated as Outperform and its $45 price target represented implied upside of 44%, if you include close to a 6% yield.

Shares of Blackstone were trading at $33.62, with a consensus price target of $36.46 and a 52-week range of $22.45 to $33.93. Its total addressable market cap is $41.0 billion.

Blackstone recently won from a huge private equity fund targeting infrastructure, and Credit Suisse sees this infrastructure move as a fifth silo to bolster the returns on its four main areas of focus (real estate, credit, private equity, hedge funds).

Source: 24 7 Wall St
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Re: Blackstone Group (BX) / Steve Schwarzman

Postby winston » Mon Jun 19, 2017 9:17 pm

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Blackstone Group (BX)
Dividend Yield: 6.4% (based on past four payments)

If you’re going to invest in private equity, Blackstone Group (BX) – which also offers financial and alternative asset management services – is one of the best.

Its portfolio currently consists of 81 companies that boast more than $71 billion in combined revenue, including the likes of healthcare payment services firm Change Healthcare, smarthome tech firm Vivint and German online classifieds firm Scout 24.

Blackstone has scored numerous high-profile wins over its investing history, including its $26 billion leveraged buyout of Hilton (HLT), which it turned around in 2013 for what Bloomberg called “the most lucrative private equity deal ever, with a paper profit of $12 billion.”

And should the market crash, expect Blackstone to do what it did after the last market collapse – put its capital to work on buying deep discounts and turning disaster into gold.

Source: Daily Trade Alert
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Re: Blackstone Group (BX) / Steve Schwarzman

Postby winston » Thu Oct 26, 2017 7:31 pm

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Blackstone Plans to Double Assets to $800 Billion in Five Years

by Erik Schatzker, Dinesh Nair, Matthew Martin

The firm is raising money for its new infrastructure fund, and it’s making a foray into early-stage growth investing.


Overseeing $387.4 billion across private equity, real estate, credit and hedge funds as of Sept. 30, Blackstone is considered a bellwether for the alternative-asset industry.

The firm added an additional $10 billion this week with the acquisition of energy investor Harvest Fund Advisors.


Source: Bloomberg

https://finance.yahoo.com/news/blacksto ... 26691.html
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Re: Blackstone Group (BX) / Steve Schwarzman

Postby winston » Thu Feb 15, 2018 9:29 pm

The Future Of Blackstone Group

by Bram de Haas

Summary

CEO Schwarzman digs into the solid growth prospects of the firm.

If you give no credit for growth, the non-fee earnings assets under management the company is about fairly valued.

If we annualize net income, Blackstone Group trades roughly at a 10x multiple.

Alternatively, if we value the firm based on assets under management it trades at roughly 9.5% of AUM.

If we consider the growth prospects (including $20 billion in commitments) and Blackstone's enterprise value, which is quite a bit below market cap, the firm is clearly undervalued.


Source: Seeking Alpha

https://seekingalpha.com/article/414606 ... ngcom_feed
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Re: Blackstone Group (BX) / Steve Schwarzman

Postby winston » Tue Feb 27, 2018 10:03 am

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Alternative Investments to Buy: Blackstone Group (BX)

Assets Under Management: $434 billion

Change is underway at the house that Stephen Schwarzman built.

Blackstone Group announced Feb. 13 that it had named Jon Gray as president and chief operating officer of the alternative asset manager, effectively making the real-estate dealmaker who’s been with the company his entire career, the heir apparent to succeed Schwarzman.

Gray’s executed some huge deals over the years, but none more significant than the $39 billion deal the executive pulled off in November 2006, buying Equity Office Properties Trust, the largest publicly traded owner of office buildings in the U.S. at the time.

By the end of 2015, Blackstone had sold most of the assets it acquired in the deal to buy Sam Zell’s office empire. Investors made more than three times their investment over the eight-year holding period.

Thanks to deals like Equity Office Properties, Gray became a billionaire, but the hard work is only beginning as his succession is sure to keep him busy as he works with Schwarzman continuing to build the company, which has become one of the world’s biggest and most successful alternative asset managers.

Source: Investor Place
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Re: Blackstone Group (BX) / Steve Schwarzman

Postby winston » Wed Mar 14, 2018 2:31 pm

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China sovereign fund CIC exits Blackstone investment

Original agreement struck with Beijing Wonderful Investments, the legal entity set up by CIC to invest in Blackstone.

In 2008, CIC had a 12.5pc in the giant US private equity firm but by the end last year that had been cut to 4.5pc

Source: SCMP

http://www.scmp.com/business/companies/ ... investment
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Re: Blackstone Group (BX) / Steve Schwarzman

Postby winston » Mon Apr 09, 2018 9:39 pm

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Blackstone Group L.P. (NYSE: BX) has upside of 48% to the $46 price target at Credit Suisse, but its yield is currently running close to 10% and that could greatly add to the total returns above 50% if Credit Suisse’s views for the private equity group pan out.

According to Credit Suisse, the markets are missing the improvement in underlying earnings power with more assets under management, and distributable earnings generation of $6 to $7 range in 2019 to 2021.

The firm also cited stronger fundraising recently over competitors while it adds infrastructure as its fifth line of business.

Down less than 1% to $31.01 on Friday, Blackstone has a 52-week trading range of $28.85 to $37.52 and a consensus target price of $41.25.

Its market cap is over $36.5 billion, and Credit Suisse has the highest price target among all research peers on Wall Street.

Source: 24/7 Wall Street
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Re: Blackstone Group (BX) / Steve Schwarzman

Postby winston » Thu Oct 03, 2019 2:18 pm

Blackstone’s billionaire co-founder says investors should worry about these 5 market dilemmas

by Chris Matthews

1. Manufacturing sector: “basically contracting around the world”
2. The Federal Reserve might be headed down a similar monetary path as Japan and Europe
3. It is low interest rates that are responsible for weak economic growth
4. Most of the major countries around the world have slowing economies
5. Failed tech IPOs are “signs of excess” that are typically associated with the late stages of an economic expansion cycle


Source: MarketWatch

https://www.marketwatch.com/story/black ... yptr=yahoo
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Re: Blackstone Group (BX) / Steve Schwarzman

Postby winston » Sat May 23, 2020 5:15 pm

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Blackstone Group BX-NYSE
Buy Price $51.07 on May 15

by CFRA

We have upgraded Blackstone to Buy from Hold, on valuation. We view positively the secular growth opportunities at Blackstone, evidenced by 2019 asset inflows that topped $134 billion.

Though near-term results could be uneven amid market uncertainty and volatility, demand for private-equity investments will be fueled by the persistently low interest-rate environment.

Blackstone is also poised to deploy its more than $150 billion of unallocated capital in a marketplace where asset values have become more attractive.

Risks to our recommendation are tied to the business cycle in many industries that Blackstone invests in, as well as global macroeconomic risks. Efforts have been made to simplify Blackstone’s reporting, but it’s a complex company with transparency risks.

Our $55 target price is based on a price/-earnings ratio of 22.4 times our 2020 earnings-per-share estimate and 15.9 times our 2021 estimate, versus the shares’ one-year average of 17.6 times, and the 16.5 times average of nondistressed-asset managers.

[The target price is supported] by Blackstone’s margins of 24.6% (versus private-equity peers’ 22.2%) and its 2019 conversion to a corporate structure [from a partnership], which should drive up demand for the shares.

Source: Barron's
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